Hutch is more or less on the money on this, except for one thing: ODOT, at the very least, knew full well this was coming. When ODOT sold the Sooner Sub to WATCO's Stillwater Central RR, part of the Final Sale Agreement was that by 2019, WATCO would provide, or arrange for, a pilot program of regular passenger service between at least Del City and Sapulpa. This pilot program must offer at least two trains per day, 7 days a week, for a period of at least 6 months. If (and only if) this pilot program proves profitable, by 2024, WATCO must then initiate or arrange for continuous daily passenger service. WATCO is on the hook for $2.8 Million, payable to ODOT's Rail Programs Division, if the pilot program does not conform to the specifications above; if the pilot program is successful but WATCO does not implement passenger service before their deadline, then the rights to operate passenger trains over this line revert back to ODOT.
In addition, WATCO is required to upgrade the line to at least Federal Railroad Administration Class 3 standards - which allows 60mph max speeds for passenger trains - by 2021, or else ownership of the entire line reverts back to ODOT. As a result, this line will certainly get improved... WATCO doesn't really have an option here!
The full final sale agreement can be viewed here:
http://www.okladot.state.ok.us/Soone...%282014%29.pdf. It's full of legalese, but for train nuts like myself, it's got some interesting reading.
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